Mike's Minute: The economic chickens have come home to roost
As the economy sinks, the Government sinks with it.
What a shocking week.
We have officially been in recession. Don’t let them con you into the “technical recession" line. A recession is a recession and going backwards is going backwards.
I have no reason to believe that in the past three months of April, May and now June things have changed. And I have no reason to believe the Reserve Bank is wrong when they forecast a recession, which, in this case, might prove to be a double dip recession in the latter part of this year.
If that didn't smack you in the face with a dose of fiscal reality…
The skinny
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